Open consultation

Aligning your pension scheme with the TCFD recommendations

Summary

A consultation on non-statutory guidance for occupational pensions on assessing, managing and reporting climate-related risks in line with the TCFD recommendations.

This consultation is being held on another website.

This consultation closes at

Consultation description

This consultation sets out non-statutory guidance for the trustees of occupational pension schemes on assessing, managing and reporting climate-related risks in line with the Taskforce on Climate-Related Financial Disclosures (TCFD).

This follows the Green Finance Strategy announcement in July 2019 of the establishment of an cross-government and industry group to develop and consult on the guidance.

  • part 1 of the guidance introduces climate risk as a financial risk to pension schemes, trustees’ legal requirements and the TCFD recommendations
  • part 2 sets out a suggested approach for the integration and disclosure of climate risk within the typical governance and decision-making processes of pension trustee boards, including defining investment beliefs, setting investment strategy, manager selection, and monitoring
  • part 3 of the guide contains technical details on recommended scenario analysis and metrics that trustees may wish to consider using to record and report their findings

Documents

Aligning your pension scheme with the TCFD recommendations: consultation guidance

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Published 12 March 2020
Last updated 1 April 2020 + show all updates
  1. Extended the closing date, this consultation now closes at 11:45pm on 2 July 2020. Ensure your response to the draft guidance reaches us by that date as any replies received after that date may not be taken into account.

  2. First published.